Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Compliance, Compliance News, EU/Europe, Regulatory, Tech, Technology

LATEST: German regulator BaFin appoints AML monitor to fast-growing fintech PayOne

By PAUL O’DONOGHUE, Senior Correspondent

GERMANY’S financial regulator BaFin has appointed a special anti-money laundering (AML) monitor to payment service provider PayOne, citing persistent weaknesses in its AML systems and compliance measures.

PayOne, a Frankfurt-based company which is one of Europe’s fastest-growing payments businesses, must also increase its capital until it resolves the identified deficiencies.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!